Nasdaq short interest up 0.4% in late August

NEW YORK, Sept 11 (Reuters) - Short interest on the Nasdaq rose 0.4% in late August, the exchange said on Wednesday.

As of Aug. 30, short interest rose to about 9.238 billion shares, compared with 9.2 billion shares as of Aug. 15.

Investors who sell securities ‘short’ borrow shares and then sell them, expecting the stock to fall so they can buy the shares back at the lower price, return them to the lender and pocket the difference.

Shorting can also be part of a hedging strategy. (Reporting by Caroline Valetkevitch Editing by Chris Reese)